S/O Feds: How many missed paychecks could you sustain?

[Anonymous]

Anonymous wrote:I would have trouble both paying my mortgage and fully paying off my credit cards starting in November.

This is just so pointless. We will be ok, but it’s a stress test and some people aren’t going to pass it. Makes me angry.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are better off than in 2018, when we had no savings, I was terrified of losing everything, and we had to borrow money from my dad. But realistically, only a few paychecks. We have savings to go a few more after that but I would start to panic. Federal attorney married to a disabled veteran. This area is expensive and it is tough on one income (plus veteran's disability).

A fed attorney and disability pay is a good income. I don’t get it.

They just don’t budget well.

You can’t be serious? First, you don’t know if she’s a 15,14, 13, or 12. I started as an attorney in government as a 12 and it took a LONG time to get up to the top of the pay scale.

Housing prices here are very high. We have an 1800 sq foot home built in the 60’s, and our mortgage is $3500 a month with an interest rate near 4% (that’s CHEAP compared to what others are paying). We were lucky to buy over ten years ago. Mortgage would be double today. A GS-15 at the top of the pay scale takes home around 8k a month.

Again, life choices. Our house was $400K fixer upper (that we DIY'ed most of) and 1000 square feet. So, your mortgage is $1500 more than ours. So, completely doable on a take home of $8K.

People like you have the ability to save. It's the secretary's, cleaning staff, and others who are rightly going to struggle. Not, people like you who are attorney's who refuse to budget and save.

First, I said nothing about my own budget or savings. Did you miss the part where a similar house costs double today? It’s an hour+ commute in rush hour by the way. You clearly don’t live here (or you bought your house 20 years ago /‘s are near retirement) because you have no idea what the cost of living is if you’re talking about a 2k mortgage. Where? How many bedrooms? Do you have children in schools?

[Anonymous]

Anonymous wrote:At risk of sounding like a brat, infinite. My husband is the bread winner and I work as a fed for the sense of purpose/intellectual stimulation.

Similar except, my GS 11 salary pays for private school for two DCs. We’ll be ok for a few months before needing to go into savings to make the tuition payment.

[Anonymous]

This thread is making me wonder if dual fed families are going extinct.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I would have trouble both paying my mortgage and fully paying off my credit cards starting in November.

This. The PP going on about a 400k fixer upper is FOs. Fixing up a house costs money. My house is was a 600k fixer upper and we bought it 10+ years ago. It’s not fixed up. It’s a money pit, as the other PP said. There is nothing on the market that affordable that isn’t a stupid decision to buy as a person intending to actually live and raise a family in it. Our family manages fine on our federal salaries but not fine enough to. It get paid for several months.

+1. The supposed benefit of a federal job is stable employment, so don't fault the employees for buying a home that's dependent on them getting a paycheck.

DP here, but thank you PPs for pointing out the obvious that employees should be able to count on a paycheck, especially while being forced to work.

My family has savings, but it’s for emergencies. Not Congress failing to do its job. Sure we can spend down our liquid savings for a while, but then what happens if our furnace goes out in winter or some other major expense comes up (which seems to happen because life)?

Also, being made to work without pay is the worst of all worlds. If you’re laid off, you often get a severance or can collect unemployment. If you’re furloughed you might be able to pick up some work somehow (Instacart or babysitting) to bring in some cash. Or maybe you can cut back on childcare expenses (which isn’t always a possibility without losing your spot I realize).

But basically working for no pay means you can’t find other ways to make money, still have to pay for childcare, and you’re dwindling down your emergency cushion.

[Anonymous]

Anonymous wrote:This thread is making me wonder if dual fed families are going extinct.

My DH is private sector and I’m a fed. He makes more money, I get better benefits. He has more growth potential. I’m stalled as a 13, but have flexibility. We’ll at least have his income during a shutdown so we’ll be ok. But no way would I put all our eggs in the federal government basket.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is making me wonder if dual fed families are going extinct.

My DH is private sector and I’m a fed. He makes more money, I get better benefits. He has more growth potential. I’m stalled as a 13, but have flexibility. We’ll at least have his income during a shutdown so we’ll be ok. But no way would I put all our eggs in the federal government basket.

It was never a high risk proposition until the last decade but it’s definitely something affecting our family in a negative way. One of us needs out.

[Anonymous]

Anonymous wrote:

Anonymous wrote:This thread is making me wonder if dual fed families are going extinct.

My DH is private sector and I’m a fed. He makes more money, I get better benefits. He has more growth potential. I’m stalled as a 13, but have flexibility. We’ll at least have his income during a shutdown so we’ll be ok. But no way would I put all our eggs in the federal government basket.

We just became a dual Fed family this month. Great timing 🙄 Shutdown aside, it really is best for us. Far better hours and pay than at the non profit, and according our CFP, we will be able to retire at our MRA with that sweet pension.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:This thread is making me wonder if dual fed families are going extinct.

My DH is private sector and I’m a fed. He makes more money, I get better benefits. He has more growth potential. I’m stalled as a 13, but have flexibility. We’ll at least have his income during a shutdown so we’ll be ok. But no way would I put all our eggs in the federal government basket.

It was never a high risk proposition until the last decade but it’s definitely something affecting our family in a negative way. One of us needs out.

I’m sorry, that really stinks. I imagine a prolonged shutdown may be the straw that breaks the camel’s back for dual fed families. And possibly even households with only one fed.

Under labor laws, private employers can get in trouble (and owe interest) if they don’t pay on time. But somehow our own government can suspend our leave and pay indefinitely. If I’m excepted again I may be calling out sick if this goes for more than a few days. I don’t have the motivation to deal with this crap.

[Anonymous]

Anonymous wrote:This thread is making me wonder if dual fed families are going extinct.

Well, they have to.. someone has to make money when there is a government shutdown! Also, private industry pays more on the whole and sometimes even has better benefits at this point. Makes sense for one spouse to go private and the other to be a fed.

[Anonymous]

I am not a fed, neither is my husband. We would not last a month - HHI 250k. We are just starting to save - at my behest!

[Anonymous]

Doesn’t navy federal offer a loan program to make up lost income for governor t employees? I’m not a fed but am a member and I remember them advertising that before.